Daily (20.08.2019): Brent crude surged by around 2% on Monday on worries about global oil supplies

20/08/2019 11:19 Daily

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Crude oil prices rose on Monday after Yemen’s Houthi forces used a drone to attack an oilfield in eastern Saudi Arabia on Saturday, threatening global oil supplies. Brent crude added $1.1, or 1.9% to settle at $59.74 a barrel. WTI futures gained $1.34, or 2.4% to end at $56.21 a barrel.

A mixed trend in gas prices was noticed on Monday. NBP spot edged 0.2% higher at $26.45 p/therm, on prospects for a drop in wind power generation and stronger gas-for-power demand. Meanwhile, prices on the curve were bearish due to an oversupplied system. The contract for delivery in Q4 19 closed 2.6% lower at 42.44 p/therm.

 

European power prices were bullish on Monday. Prompt electricity prices increased due to lower wind output and rising demand. The German day-ahead power price boosted by 51.8% to 39.80 euros/MWh. At the same time, the French spot electricity price jumped by 43.4% to 34.60 euros/MWh.

 

Further along the curve, contracts had an upward evolution on Monday, tracking gains in carbon and fuels market. The German year-ahead power contract settled 0.6% higher at 48.77 euros/MWh. The French equivalent contract ended 0.3% up at 50.42 euros/MWh.

 

EU carbon prices rebounded from earlier losses on Monday, due to stronger auction demand. The 2019-expiry contract traded 2.3% higher at 26.56 EUR/tonne.

Daily (13.09.2019): Welding anomalies at French nuclear reactors supported spot gas and power prices across Europe

13/09/2019 11:03:00

Crude oil prices had another bearish day, after Donald Trump denied the possibility on an interim U.S.-China trade deal. Comments by OPEC+ alliance that deeper cuts would not be decided before a meeting in December and ECB’s decision to cut its deposit rate also weighed on prices. Hence, Brent crude dropped by 0.7% to close at $60.38 a barrel, while WTI futures lost 1.2% to settle at $55.09 a barrel.

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Daily (12.09.2019): WTI crude lost almost 3% on Wednesday, on news that U.S. might ease sanctions on Iran

12/09/2019 11:31:00

Crude oil prices declined on Wednesday, as U.S. administration could ease sanctions against Iran, thereby inflate global supplies. At the same time, both OPEC and EIA slashed demand forecasts this week. Consequently, WTI crude dropped by 2.9% to $55.75 a barrel, while Brent oil decreased by 2.5% to $60.81 a barrel.

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Poland's energy minister says power prices must stay under control

12/09/2019 08:52:00

Poland’s energy minister, Krzysztof Tchorzewski, said on Wednesday that the country would have to maintain controls on electricity prices to secure economic competitiveness.

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